PPP Loan Data — Jedco Sales Inc, Effingham, IL
Jedco Sales Inc is a subchapter s corporation located at 2313 Hoffman Dr in Effingham, Illinois that received a Coronavirus-related PPP loan from the SBA of $46,075.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Jedco Sales Inc in Effingham, IL received a Paycheck Protection Loan of $46,075 through Crossroads Bank, which was approved in January, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Jedco Sales Inc's 2019 payroll expenses are estimated to be at least $221,160.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $36,860 per employee1
Reported PPP Proceed Usage:
On the PPP application, Jedco Sales Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,074
Business Information - Jedco Sales Inc in Effingham, IL
2313 Hoffman Dr
Effingham, IL 62401
Other Clothing Stores
NAICS code 448190
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Effingham
In the Effingham area, 3 businesses in the "Other Clothing Stores" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 6) and received an average PPP loan of $17,999 (compared to this company's $46,075).
Similar Nearby Businesses Who Received PPP Funding:
Vayda Jane Bridal LLC
Industry PPP Comparison Statistics
Nationwide, 19,419 businesses in the "Other Clothing Stores" industry received a total of $642.94M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 5 employees, 17% lower than Jedco Sales Inc's reported 6 employees, and received an average PPP loan of $33,109, 28% lower than this company's loan of $46,075.
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Footnotes & Information
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